SRI/Surgical Express to Buy out Tampa Facility
Supply chain management company SRI/Surgical Express, Inc. (STRC) , has entered into an agreement of buy the Tampa corporate headquarters facility from Coastal Hillsborough Partners, LLC. The deal is valued at about $5.3mn. Originally STRC had the facility under a lease agreement, which also had a purchase option.
This agreement settles the pending litigation issues with Coastal, which involved several legal issues related to the purchase price of the facility under agreement. The facility spans about 42,000 square feet and STRC expects to close the transaction in December 2005.
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